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Terry Rozier’s turbulent two-year run as a member of the Miami Heat has officially come to an end.
The Heat are waiving Rozier, ESPN reported Friday morning. The 32-year-old guard has been on leave since his Oct. 2025 arrest on gambling charges. NBA teams have until 5 p.m. ET on Friday to waive players who are currently on expiring contracts in order to open up roster spots for the upcoming playoffs.
While the transaction was made to bolster the Heat’s postseason roster, it also officially distances the franchise from one of the league’s most noteworthy scandals. Following his arrest last fall, Rozier was indicted on federal charges of conspiracy to commit wire fraud and conspiracy to commit money laundering related to accusations he provided bettors with inside information as part of an illegal sports gambling scheme. His case remains ongoing, with his next court date scheduled for April 27. Rozier has pleaded not guilty, with his lawyer, Jim Trusty, previously calling the accusations against his client “thin.”
In February, an arbitrator ruled that Rozier should still receive his salary despite the NBA initially placing him on unpaid leave. The former Louisville star was in the final season of a four-year, $96.2 million contract before the Heat waived him on Friday. He’ll still receive the full remainder of his salary despite being released.
Rozier’s departure from Miami comes more than two years after the Heat first acquired the veteran combo guard in a trade with the Hornets in Jan. 2024. Midway through his second season in Miami, the Wall Street Journal reported that Rozier was under federal investigation regarding claims that he manipulated his performance as a part of an illegal betting scheme during his time with the Hornets in March 2023.
At the time of the report, the NBA said that it had previously conducted its own investigation and found no evidence of wrongdoing. Rozier continued playing as the league cooperated with the federal probe, which ultimately led to his Oct. 2025 arrest. Portland Trail Blazers head coach Chauncey Billups and former NBA guard/assistant coach Damon Jones were also arrested as part of the probe.
The circumstances surrounding Rozier’s arrest created no shortage of fallout for the Heat, who have maintained they were unaware of the NBA’s previous investigation into his behavior when they acquired him in exchange for Kyle Lowry and a protected first-round pick from Charlotte. Last month, the Hornets agreed to send Miami a 2026 second-round pick to settle any potential grievances as a result of the transaction.
Having now moved on from what NBA commissioner Adam Silver previously referred to as an “unprecedented situation,” Miami has until Sunday to fill its empty roster spot ahead of the postseason. At 41–39 with two games remaining in the regular season, the Heat are currently positioned to participate in the NBA play-in tournament as the No. 10 seed.
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